Correct! The options exercisable at 3.5 cents have no value until share price goes past 3.5 cents. So if PCL goes to say 4.5 cents. Then those 3.5 cent exercise options upon conversion by payment to PCL of 3.5 cents, then have a net value of 1 cent.
So obviously these 3.5 cent option holders would like to see a much higher PCL price than 3.5 cents.
And one would speculate that a much higher price for PCL than 3.5 cent would only happen if there was drilling success in PEL 87 and in this event all PCL shareholders would benefit.
Future drilling success is of course speculative at present as with all wildcat exploration drilling.
Risk in everything. DYOR
PCL Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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